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Khalil: How can landlords safeguard themselves against the election result?
The last few months have seen plenty of things to cause chaos and turmoil in the private rented sector. And now a ‘snap’ general election is called.
More uncertainty and more volatility lay ahead. But what can landlords expect longer term from the political parties?
Let’s take a look at the manifestos from a landlord’s perspective. Is there much to cheer about for landlords in anyone’s manifesto?
On some issues the two major parties are in agreement. Both promise to build more homes, and both plan to follow through on the proposed ban on letting agent’s tenant fees.
Let’s outline the key policies.
The Conservative manifesto is worryingly light on detail.
It vaguely promises to improve protection for tenants, and it mentions looking into ways to increase security for good tenants and encourage longer tenancies.
More concrete is the existing £1.4 billion infrastructure spending earmarked for social housing in England.
Labour’s manifesto is a little more detailed.
One million new homes will be built over five years, half of which will be council and housing association properties offering ‘affordable’ rented accommodation.
A set of new standards for homes in the private rented sector will be implemented and fines introduced for landlords whose properties do not meet these.
A clear deadline is promised to introduce tenant protection measures within three years, and rent rises will be capped in line with inflation.
What landlords can learn from the manifestos
You don’t need to be an astute political commentator to sense that landlords are going to feel the pinch, whichever party gains power in June.
I think we can safely say that letting agent’s tenant fees will be banned. And some form of rent control is on the cards. It looks like a rough ride ahead.
How can you be a strong and stable landlord in uncertain times? Amidst the threats to profitability, the challenge of social housing and the promise of rent caps, is there any safe haven for landlords?
In times of volatility and risk is there a way you can continue to count on a return from rent?
Thankfully there is. Regardless of the policy pledges, election results or future legislation, Khalil’s offer you a way to guarantee a very safe return on your rental property. Our Rent Guarantee Scheme allows you to weather the storms from a position of security.
• We offer you a guaranteed monthly rent, regardless of void periods
• We will find and look after your tenants – and your property’s maintenance
• We can guarantee you returns on your property whatever slings and arrows politicians may fire at you
• We can take away all that worry and uncertainty
We think this, at least, should get your vote. Want to find out more?